MKTG 4827.2 : Sports Marketing Nashville and the Predators - Management Assignment Help

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Nashville, the capital of the state of Tennessee, was the second most populous city in that state, with 1.5 million residents. Its economy was based primarily on the music, health care, insurance, finance and publishing industries. Nashville also served as the headquarters for Nissan North America, Hospital Corporation of America and Dollar General Corporation. The city had a median per-family income of $49,804, which was slightly higher than the national median of $48,201.8 Nashville also boasted a large
university population, with 74,000 undergraduate students within 50 kilometers of the downtown core. Nashville had numerous other professional sports franchises in the city, including a National Football League (NFL) franchise (the Tennessee Titans) and a professional baseball team (the Nashville Sounds). Memphis, which was 212 miles (339 kilometers) southwest of Nashville, was home to a National Basketball Association (NBA) franchise, the Memphis Grizzlies. Exhibits 7, 8, 9, 10, 11, 12 and 13 give information on average ticket prices and attendance levels for major professional sports leagues in North America.

The Nashville Predators entered the NHL in 1998 and became one of the NHL’s top on-ice performing teams. The team missed the playoffs in its first five seasons, but has qualified for the playoffs every year since then. The team played at the Sommet Center, which had a capacity of 17,133 and 70 luxury suites.9 The Predators leased the arena from the Sports Authority of Nashville and Davidson County. According to the terms of the lease, the Predators controlled the non-hockey operations. The cost of the lease was only $1.5 million per year because of a $7.4 million subsidy given to the team by the city of Nashville.10 Exhibit 14 shows an estimate of the Nashville Predator’s income statement for 2007/08.11

Jim Balsillie and the NHL
Jim Balsillie was a Canadian billionaire who started Research In Motion (RIM), a technology company headquartered in Waterloo, Ontario, which, in fiscal year 2007 earned $6.0 billion in revenue. Balsillie received his bachelor’s degree in Commerce from the University of Toronto and an MBA from Harvard University in 1989. Since 1992, Balsillie has served as the co-CEO of RIM and was Canada’s ninth richest  person in 2008 with a net worth of $3.4 billion.12 He twice attempted to buy an NHL team (franchise): the Pittsburgh Penguins in 2006 and the Nashville Predators in 2007.

The Pittsburgh Penguins (2006)
In October 2006, Balsillie offered $175 million to buy the Pittsburgh Penguins from Mario Lemieux and his partners. At the time, the Penguins needed a new arena, struggled to sell tickets and were unable to attract sufficient corporate sponsorship to support an NHL franchise. The deal appeared to be agreed upon by both sides, but fell through when reports circulated throughout the NHL that Balsillie intended to relocate the team to Canada. League Commissioner Gary Bettman responded by setting guidelines for Balsillie, mandating him to keep the team in Pittsburgh and forcing him to employ NHL staff on his management team. These actions prompted Balsillie to withdraw his bid for the franchise.

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